Whether you're building a new business or ready to expand a current one, a business construction loan can help you finance the building process.
Loan draws are available as you need them throughout the construction timeline. Your dedicated Commercial Banking Officer works with you to ensure the project stays on track to hit completion dates. Our Commercial Lending team is friendly, knowledgeable, and local. We develop relationships with business owners that last for many years.
In addition, Magnifi Financial partners with several agencies to obtain GAP financing and low-cost solutions for your business' needs. Participation with these agencies help provide cost-effective solutions to your business. Some of the agencies Magnifi Financial participates with include:
- Small Business Administration (SBA) - Click here to learn about our SBA Preferred Lender status
- The Initiative Foundation
- Local Economic Development Associations
- US Department of Agriculture (USDA)
As the largest commercial-lending credit union in Minnesota, we are able to provide our business members with low loan rates.
Magnifi Financial has very competitive terms for businesses which include low fees. We make sure you're comfortable with all of the terms of your loan.
SBA has great programs available for new businesses and our preferred lender status helps you get that financing faster and easier.
Let's Build Something
For every stage of
your business, Magnifi Financial can help provide the financing for new or expansion
New Facility for an Existing
Expansion on a Current
Fill out our online form with some information about your business and the products or services of interest. Your local Commercial Banking Officer will be in touch within 1-2 business days.
Locate a Branch
You can open a business account or loan at any Magnifi Financial location. Each location has a designated Commercial Banking Officer, but we recommend you call ahead to make an appointment.
We have a dedicated phone line for business members which will help you reach someone who can help faster and save you precious time.
Business and Commercial Loan Options
Check out some of the other business loan options available with Magnifi Financial
Line of Credit
Join the Magnifi Family!
At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.